Across Ohio, farms and agribusinesses create jobs, spur economic development, feed our families, and instill pride in communities. As one of Ohio’s biggest economic drivers, a thriving agricultural sector is critical to our state’s prosperity. That’s why I’ve made supporting farmers and agribusinesses a priority for my administration.
The Treasurer’s office has long administered the Ag-LINK program to help farmers and agribusinesses finance up-front costs for feed, seed, fertilizer, and fuel through an interest rate reduction on operating loans. When extreme weather wreaked havoc on Ohio’s fields last year, we opened a special Ag-LINK application period, helping more than 150 farmers and agribusinesses receive lower interest rates on loans totaling over $18 million.
The application period for the 2020 Ag-LINK season is open through March 20 – so there’s still time to apply. Farm operators and agribusiness owners based in Ohio can receive an interest rate reduction on loans up to $150,000. Although the exact amount of the discount will be provided to lenders in late March, there is a minimum one percent reduction in place.
We want to help make sure every resource is available to assist Ohio’s agriculture industry, and with the uncertainties in agricultural markets, Ag-LINK can provide significant savings for farmers.
Those interested in Ag-LINK should contact their ag-lender to begin the online loan application process. More information on the Ag-LINK program can be found online at www.ohiotreasurer.gov/aglink.